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Continuing the dismal run for the fourth straight day, crude palm oil prices fell 1.69% to Rs 429.50 per 10 kg in futures trading today as speculators off-loaded positions because of a fall in demand in the spot market.
Besides, adequate stock position in the physical market following higher supplies from producing belts kept downward pressure on prices.
At Multi Commodity Exchange, crude palm oil for delivery in May plummeted Rs 7.40, or 1.69%, to Rs 429.50 per 10 kg in business turnover of 665 lots.
Similarly, the oil for delivery in April contracts moved down Rs 6.30, or 1.45%, to Rs 428.90 per 10 kg in 681 lots.
Market analysts said off-loading of positions triggered by low demand in the spot market primarily kept the prices lower in futures trade.
